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1) Credit company incurred the follwing costs in acquiring…

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<p>1) Credit company incurred the...

<p>1) Credit company incurred the follwing costs in acquiring plant assets: -purchased land for a $50,000 down payment and signed a $100,000 not payable for the balance. -delinquent property tax of $2500 and legal fess of $1,500 -$5000 to remove an unwanted building -architect fee of $2,000 for the design of the building -constructed an office building at a cost of $500,000 -interest cost on construction loan for the building $20,000 -$7500 for fencing, $4000 for landscaping, and $5000 for lighting Determine the cost of the land, land improvements and building. I only need this one question answered and I only have a few minuets left on the timer

3. Om February 1, 2007, Reardon Corporation purchased a parcel of land as a factory site for $320,000. An old building on the property was demolished and construction begun on a new warehouse that was… read more

E10-2 Trudy Company incurred the following costs. 1. Sales tax on factory machinery purchased $5,000 2. Painting of and lettering on truck immediately upon purchase 700 3. Installation and testing of … read more

For Business Tutor, Exercise 7-3 Fastball Delivery Company acquired an adjacent lot to construct a new warehouse, paying $30,000 and giving a short-term note for $270,000. Legal fees paid were $1,425,… read more

The following expenditures and receipts are related to land, land improvements, and buildings acquired for use in a business enterprise. The receipts are enclosed in parentheses. (a) Money borrowed to… read more

During 2010, Burr Co. had the following transactions pertaining to its new office building: Purchase price of land $ 60,000 Legal fees for contracts to purchase land 2,000 Architects' fees 8,000 Demol… read more

Credit Company incurred the following costs in acquiring plant assets: * purchased land for a $50,000 down payment and signed a $100,000 note payable for the balance * delinquent property tax of $3,50… read more

credit company incurred the following costs in acquiring plant assets: * purchased land for a $50,000 down payment and signed a $100,000 note payable for the balance * delinquent property tax of $3,50… read more

E10-2 Trudy Company incurred the following costs. 1. Sales tax on factory machinery purchased $5,000 2. Painting of and lettering on truck immediately upon purchase 700 3. Installation and testing of … read more

E10-5 (Treatment of Various Costs) Ben Sisko Supply Company, a newly formed corporation, incurred the following expenditures related to Land, to Buildings, and to Machinery and Equipment. Abstract com… read more

Trudy Company incurred the following costs. 1. Sales tax on factory machinery purchased $5000 2. Painting of and lettering on truck immediately upon purchase $700 3. Installation and testing of factor… read more

2. Capitalizing acquisition costs Potts manufacturing co. was incorporated on 01/02/2004 but was unable to begin manufacturing activities until 08/01/2004 because new factory facilities were not compl… read more

The following payments and receipts are realted to land, land improvements, and building acquired for use in a wholesale ceramic business. The receipts are identified by an asterisk. A) Fee paid to at… read more

There are a total of three questions.E10-3 (Acquisition Costs of Trucks) XXXXX XXXXXson Corporation operates a retail computer store. To improve delivery services to customers, the company purchases f… read more

4.The following payments and receipts are realted to land, land improvements, and building acquired for use in a wholesale ceramic business. The receipts are identified by an asterisk. A)Fee paid to a… read more

1.On Feb 13, Scandia Co. paid $1,650 to install a hydraulic lift and $25 for an air filter for one of its delivery trucks. Journalize the entries for the new lift and air filter expenditures. 2.Equipm… read more

Arnold Company purchased a tract of land and contracted with a commercial developer to build an office building. Arnold Company also engaged other contractors for fencing, paving, lighting, and landsc… read more

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Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.